Another thing you can do is cancel and replace your order. As orders get older, they scroll down the screens. They aren't as quickly noticed as they scroll near the end of lists. Hence the faster fills of my more recent orders.
I'm watching the XSP vs SPY. Is there a difference in how they will be settled? There is a skew in pricing.
You would think a older order has "higher" priority, but maybe not. I'm also using OX and your using TOS. This is a very interesting real-time "comparison" of broker fills. I just called down the order desk and they put in a status request for me, but as of now: OPEN SPX NOV 1095 PUT / NOV 1110 PUT 30 / 30 Credit 0.50 DAY Can you comment on how good TOS's web interface is? Most client sites I work with won't allow the ports of the TOS application. sd
Here is a new one for me. I dropped down to the 1115/1125 spread for a little more cushion. After a few minutes I got filled, but for .05 less than my limit! I logged onto the live help and after about 30 minutes they "adjusted" my account as if I was filled at my limit. ryan
I use OX and TOS both. I've never really noticed much difference. But I would definitely use the cancel/replace thing. I've not used TOS webtrader much. Frankly it's a little hard to read. Their platform is great. If you're doing webtrading only, not at your own desk, I think I'd stay with OX.
I just switched to ToS a few days ago and I have a number of posts on the subject. I was strictly OX before, but ToS seems far superior. Goosed my first order for a fill today by calling the trading desk. I was never able to do that with OX. Check out my posts from a few days ago. The only thing stopping me from switching before was commission costs were supposedly higher for ToS than OX. They matched my OX commission costs, so it was a no brainer to switch. They have a web based platform for trading, so you don't need to download the Java platform on your client's machines (this was important to me because my client's won't allow any downloads on their machines and I can't connect my portable to their secure network). The web-based platform isn't as fully featured, though as the downloadable software.
There is no skew in the pricing. You have to remember that these are completely different products. The SPY is an ETF established to mirror the performance in the S&P 500 index. Due to trust fee and the fact that it cannot mirror it exactly there is a difference between the SPY price * 10 and what the S&P index is. The XSP is exactly the SPX divided by 10. One is a tracking stock, one is the actual cash index divided by 10 so they will never have exact pricing due to the inherent differences between the two products. SPYs do not settle at all. They are a stock and are treated like any other stock at expiration. XSP settlement will follow SPX settlement. Phil